I prefer braided due to high strength for any given diameter, and lack of stretch that helps get positive hook sets in deeper water. Braided has some drawbacks, though, once the coating is a little worn ice sticks to it very easily, and it if slack line falls on the ice on a cold day, it will freeze to the ice quickly. Mono doesn't have much of a problem with that kind of thing.
I prefer braided for fishing, but mostly I use monos (cheaper, and still functional).
Welcome FishingMan! Cutts right on about braid, good hooksets and freezing quickly. Mono has a definate place in other situations though so it would be wise to use both, if you have a spare spool. I use braid in deep water and mono in shallowwater. Looney
Foe me it depends on what depth, species, and how the fish are reacting. I learned from _colorado to use 100% 5X or 4x flourocarbon tippit for a leader for trout. I've done some side by side testing and the floourocarbon leader gets more strikes. When fishing deep for lakers I like to use a monofiliment leader with a small diamiter braided line.